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Sequential versus independent commitment : an indirect evolutionary analysis of bargaining rules

Güth, Werner - 1998 - Rev.

Rational bargaining behavior depends crucially on the rules of bargaining, especially on whether parties decide sequentially or independently. Whereas in ultimatum bargaining the proposer can exploit the responder, independent commitments result in more balanced payoffs. To limit the scope of...

Persistent link: https://www.econbiz.de/10009574886

Stabilization policy and business cycle phases in Europe : a Markov Switching VAR analysis

Beine, Michel; Candelon, Bertrand; Sekkat, Khalid - 1999

Most of the empirical studies dealing with international business cycles have disregarded the credibility issues that …

Persistent link: https://www.econbiz.de/10009582416

Structural vector autoregressive models and monetary policy analysis

Holtemöller, Oliver - 2002

possibility is to adopt restrictions from economic theory. The purpose of this paper is to investigate the implications of the …

Persistent link: https://www.econbiz.de/10009620773

Was there a regime change in the German monetary transmission mechanism in 1983?

Candelon, Bertrand; Lütkepohl, Helmut - 2000

Recent investigations of the transmission mechanism of German monetary policy arrive at quite different conclusions regarding its stability during the period of monetary targeting by the Bundesbank. In this study small dynamic models for the monetary sector of the German economy are analyzed in...

Persistent link: https://www.econbiz.de/10009583433

Lag selection in subset VAR models with an application to a US monetary system

Brüggemann, Ralf; Lütkepohl, Helmut - 2000

Alternative modeling strategies for specifying subset VAR models are considered. It is shown that under certain conditions a testing procedure based on t-ratios is equivalent to sequentially eliminating lags that lead to the largest improvement in a prespecified model selection criterion. A...

Persistent link: https://www.econbiz.de/10009583885

Taylor rules and macroeconomic instability or how the Central Bank can pre-empt sunspot expectations

Weder, Mark (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001917100

Trust in the shadow of the courts if judges are no better

Brennan, Geoffrey; Güth, Werner; Kliemt, Hartmut - 1997

theory ; Intrinsic motivation ; Court system ; Legal litigation ; Hobbesian problem of social order …

Persistent link: https://www.econbiz.de/10009657895

Banks' supply of loans : when future monetary policy is uncertain

Mitusch, Kay; Nautz, Dieter - 1998

The most important policy instruments of the Bundesbank and of the coming European Central Bank involve lending to domestic credit institutions. In this monetary setup, banks use short-term central bank credits extensively in order to refinance long-term loans to the public, which makes them...

Persistent link: https://www.econbiz.de/10009578028

The response of long-term interest rates to news about monetary policy actions : empirical evidence for the US and Germany

Nautz, Dieter; Wolters, Jürgen - 1998

We reexamine the expectations theory of the term structure focusing on the question how monetary policy actions … tests of expectations theory this implication only requires rational expectations but not stationary risk premia. Therefore …, its empirical test sheds new light on the importance of expectations theory for the determinants of the term structure of …

Persistent link: https://www.econbiz.de/10009578577

The transmission of German monetary policy in the pre-Euro period

Lütkepohl, Helmut; Wolters, Jürgen - 2001

A small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used, that is, the period until the...

Persistent link: https://www.econbiz.de/10009616780

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